Check out other loans that are currently fundraising!
Altantulga
Altantulga is 41 years old and lives with his wife and three children in Arhangai province, Mongolia. He and his family live together in a 'ger', which is a traditional Mongolian nomadic housing tent. They have been living together in their home for 16 years. Currently, Altantulga operates a second-hand product business with his wife in his town. He sells a variety of used products including clothing and blankets to his many customers.

He started his business in 2004 with 400,000 tugrugs (~ 282 USD). After years of successful operations he has managed to increase his working capital to a level exceeding 1,200,000 tugrugs (~ 845 USD) today. With his business profit, he has been providing money toward his family expenses and his family's quality of life has been improving.

Altantulga is a very hard-working person and has many plans for the future. He says, “I would like to expand my business and to create my own workplace in the future.” He is requesting a 2,000,000 tugrug (~ 1407 USD) loan to purchase large amount of second-hand products at wholesale prices for his business.

Additional Information

About XacBank

This loan is being administered through XacBank, a Mongolian for-profit microfinance institution. XacBank is located in every province of Mongolia, reaching some of the most rural micro business clients. With this Kiva loan, there is an opportunity for the entrepreneur to get a savings account including 9% of the interest if they pay back the loan on time. This is a special savings account that XacBank has specifically prepared for the Kiva loan borrowers to promote savings habits.

About Mongolia

  • $2,175
    Average annual income
  • 21
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,392.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,450 helped Altantulga to purchase second-hand products for resale.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 16, 2010
Listed
Mar 29, 2010
Currency Exchange Loss:
Possible
Ended:
Apr 16, 2011